WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN), in coordination with the U.S. Department of Justice (DOJ), today issued guidance that clarifies customer due diligence expectations and reporting requirements for financial…
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VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a civil money penalty against Saleh H. Adam, doing business as Adam Service, a money services business (MSB). A FinCEN…
WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN) today published two administrative rulings, providing additional information on whether a person’s conduct related to convertible virtual currency brings them within the Bank Secrecy Act’s (BSA) definition of a money…
WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN) today fined J.P. Morgan Chase Bank, N.A. $461 million for willfully violating the Bank Secrecy Act (BSA) by failing to report suspicious transactions arising out of Bernard L. Madoff’s decades-long, multi-billion dollar…
WASHINGTON, D.C. – To enhance and reinforce coordination with Mexican authorities on a variety of operational and regulatory anti-money laundering initiatives, FinCEN Director Jennifer Shasky Calvery and Mexico’s National Banking and Securities Commission (CNBV) President Jaime Gonzalez Aguade…
An updated version of the Discrete (online) Report of Foreign Bank and Financial Accounts (FBAR), FinCEN 114, is now available on the BSA E-Filing System. This version now provides the ability to select or enter a late filing reason and has a new…
VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $4.1 million civil money penalty against Saddle River Valley Bank in Saddle River, New Jersey. FinCEN has determined that the bank…
WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $37.5 million civil money penalty against TD Bank, N.A. for failure to file suspicious activity reports related to the massive…
The Financial Crimes Enforcement Network (FinCEN) will hold an Informational Webinar on Thursday, September 19, 2013, to discuss technical specifications related to the electronic filing of the Report of Foreign Bank and Financial Accounts (FBAR).
The Webinar will provide participants with…
VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today released an analysis of Mortgage Fraud SAR Filings in Calendar Year 2012. FinCEN’s data on suspected mortgage fraud shows that reports declined 25 percent in…
Responding to the needs of many filers who submit Reports of Foreign Bank and Financial Accounts (FBARs) jointly with spouses, or wish to submit them via third-party preparers, the Financial Crimes Enforcement Network (FinCEN) today introduced…
VIENNA, Va. – In an effort to provide law enforcement authorities with needed information, while also considering operational practicality for both financial institutions and their customers, the Financial Crimes Enforcement Network (FinCEN) today issued the following exceptive administrative…
VIENNA, Va. – Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network (FinCEN), announced that FinCEN’s reorganization will be implemented as of today.
“Since becoming FinCEN’s Director, my priority has been getting the best we can from our data, our unique…